Retail & Commercial

Home valuation professionals have had mixed feelings about automation out of concern that some forms could result in less accurate assessments.

The government has become more skeptical of mergers, but the Minneapolis company expressed confidence it can maintain its original timeline for the $8 billion acquisition. Separately, it announced substantial changes to its overdraft program that will, among other things, eliminate fees for nonsufficient funds.

The Irvine, California, bank has been beset by compliance woes since early 2021, when state regulators issued an order requiring it to bolster its capital and reduce the concentration of its commercial real estate footprint.

The largest bank based in oil-rich Texas is building a framework for gauging the threat that climate change poses to its business and plans to disclose more information on the subject this summer. Meanwhile, its energy loan portfolio shrank 24% year over year.

Customers are ramping up borrowing just as interest rates are poised to rise. That combination “sets us up nicely for 2022,” says CEO Brian Moynihan.

Google has hired former PayPal executive Arnold Goldberg to run its payments division and set a new course for the business after it scrapped a push into banking.

The Rhode Island bank estimated that its revised overdraft practices will cost $40 million each year, but it noted that complaints to call centers are down 40% since the policy change.

The U.K. neobank has expanded its U.S. customer base to 300,000 mobile users and diversified its product line to include basic banking, crypto trading and investing.

The new offering’s loan structure is designed to hedge against digital currency's price volatility.

The Mississippi bank’s addition of more than a dozen bankers last year helped drive a $250 million increase in new loans during the fourth quarter. To keep the momentum going, CEO John Hairston said he intends to hire aggressively in 2022.